“It’s nice to see
our old friend
value back in
the game.”
September 9 through September 13, 2019
Index to Statistics
- M13
With the S&P 500near an all-
time high, Janney Montgomery Scott’s
Michael Gaugler says a review of industrial
and chemical stocks “appears warranted.”
Gaugler has Buy ratings on Mueller Water
Products, Xylem, Rexnord, and Quaker
Houghton. Mueller, he says, can “ride out
the current volatile economic environ-
ment,” and while Xylem has “a slightly di-
minished outlook, [the] investment thesis
remains favorable.” Rexnord’s valuation is
starting “to reflect strengthened (and
strengthening) financial metrics,” and a
Quaker acquisition means it can cut costs
while “maximizing cross-selling opportuni-
ties.” The stocks have double-digit upsides,
except for Xylem, which he sees rising 7%.
The Trader
Value on Top
Trends reverse and
growth takes a hit. 3
European Trader
L’Oréal Tries
A Makeover
A misstep in the U.S.,
new efforts in China. 6
Emerging Markets
Bond Party May
Be Over for Now
Investors hunt further
afield for returns. 6
The Striking Price
A Bullish Play on
Bank of America
Interest-rate cuts should
provide a lift. 7
Commodities Corner
Emerging Markets
Stock Up on Gold
Russia and China bolster
forex reserves. 9
The Activist Investor
A Wilted Bloomin’
Will Jana seek a sale of
the dining brands? 10
Milton Glaser
Our
Founder
Clarence
Barron